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'Perfect Pay' Provisions in Troubled Credit Markets
As credit market turmoil continues to unfold, the landscape for securitizations, syndications, mergers, and acquisitions also continues to evolve and change. But some aspects of the finance world remain intact including use of 'perfect pay' or 'servicer advance' clauses in lease and loan portfolio sale and financing facility contracts ('Funding Agreements'). However, even these provisions face review and potential changes.
Syndications in Imperfect Credit Markets
In the current era of credit uncertainty spawned by the subprime mortgage crisis, perfect pay provisions may be subject to changes as banks, leasing companies, hedge funds, and other financial institutions to which these payments have been sold or pledged ('Funders') tighten credit standards and re-examine transaction risk, particularly in syndications of interests in leases and loans. Perfect pay provisions smooth payments to Funders and ease the administrative burden of matching actual original lease, conditional sale, or loan contract ('Contract') payment receipts to payments due to Funders. However, lessors or lenders that originate the underlying transaction ('Originators') must use care to maintain and provide to Funders accurate delinquency and default reporting with respect to the Contract subject to a perfect pay provision. Such effort is especially important when, upon hitting predefined delinquency and default triggers, a Contract may be subject to repurchase by or recourse to the Originator.
Yachts, Jets, Horses & Hooch: Specialized Commercial Leasing Models
Defining commercial real estate asset class is essentially a property explaining how it identifies — not necessarily what its original intention was or what others think it ought to be. This article discusses, from a general issue-spot and contextual analysis perspective, how lawyers ought to think about specialized leasing formats and the regulatory backdrops that may inform what the documentation needs to contain for compliance purposes.
Hyperlinked Documents: The Latest e-Discovery Challenge
As courts and discovery experts debate whether hyperlinked content should be treated the same as traditional attachments, legal practitioners are grappling with the technical and legal complexities of collecting, analyzing and reviewing these documents in real-world cases.
Identifying Your Practice's Differentiator
How to Convey Your Merits In a Way That Earns Trust, Clients and Distinctions Just as no two individuals have the exact same face, no two lawyers practice in their respective fields or serve clients in the exact same way. Think of this as a "Unique Value Proposition." Internal consideration about what you uniquely bring to your clients, colleagues, firm and industry can provide untold benefits for your law practice.
Risks and Ad Fraud Protection In Digital Advertising
The ever-evolving digital marketing landscape, coupled with the industry-wide adoption of programmatic advertising, poses a significant threat to the effectiveness and integrity of digital advertising campaigns. This article explores various risks to digital advertising from pixel stuffing and ad stacking to domain spoofing and bots. It will also explore what should be done to ensure ad fraud protection and improve effectiveness.
Turning Business Development Plans Into Reality
This article offers practical insights and best practices to navigate the path from roadmap to rainmaking, ensuring your business development efforts are not just sporadic bursts of activity, but an integrated part of your daily success.